How we evaluate products
Responsible Investment strategies, processes, practices and disclosures are assessed against the eight criteria for product certification in the Responsible Investment Standard and accompanying Guidance and Assessment Notes.
What this symbol means
General certification: This Symbol signifies that a product or service offers an investment style that takes into account environmental, social, governance or ethical considerations, and that it adheres to the operational and disclosure practices required under the Responsible Investment Certification Program for the category of Product.
<span class="text-size-xxsmall">The content on this webpage is provided by Responsible Investment Association Australasia Ltd (ACN 641 046 666, AFSL 554110). For more information refer to our Financial Services Guide. Certain content provided may constitute a summary or extract from the offer document of a financial product. Any general advice has been provided without reference to your investment objectives, financial situation or needs. If the advice relates to the acquisition of a particular financial product for which an offer document (such as a product disclosure document) is available, you should obtain the offer document relating to the particular financial product and consider it before making any decision whether to acquire the product. Past performance does not necessarily indicate a financial products’ future performance. To obtain information tailored to your situation, contact a financial adviser.</span>
Themes & Issues
Society
Education
Included
Green property
Included
Healthcare and medical products
Included
Renewable energy and energy efficiency
Included
Social and sustainable infrastructure
Included
Sustainable land and agricultural management
Included
Sustainable transport
Included
Impact investments
Included
Armaments
Fully avoided
Gambling
Fully avoided
Pornography
Fully avoided
Tobacco
Fully avoided
Alcohol
Fully avoided
Fossil fuels
Mostly avoided
Environment
Education
Included
Green property
Included
Healthcare and medical products
Included
Renewable energy and energy efficiency
Included
Social and sustainable infrastructure
Included
Sustainable land and agricultural management
Included
Sustainable transport
Included
Impact investments
Included
Armaments
Fully avoided
Gambling
Fully avoided
Pornography
Fully avoided
Tobacco
Fully avoided
Alcohol
Fully avoided
Fossil fuels
Mostly avoided
<span class="text-size-xxsmall">For RIAA’s definitions of the themes included and issues avoided, please view this guide. Product-specific exclusion criteria and practices may vary. You can find these by referring directly to the product provider.</span>
Overview
Description
Future Super is a superannuation fund offering members the choice of four investment options across both accumulation and pension divisions. This application relates to the Renewables Plus Growth investment option. Future Super Investment Services (FSIS, we, us, our) is the founder, promoter and investment manager of Future Super. The trustee is Equity Trustees Superannuation Limited (ETSL).
The Renewables Plus Growth investment option is designed to have the most positive environmental impact of any of Future Super’s investment options. It specifically targets a 20% asset allocation to climate change solutions.
Three examples of investments in the Renewables Plus Growth investment option which contribute to climate change solutions are:
Green Squares Energy -
Green Squares Energy finances behind the metre commercial solar power purchase agreements (PPAs), serviced leases and other projects including small scale utility solar farms. Green Squares originates then manages the projects, PPAs and leases. One of Green Squares’ latest projects is the Cosgrove Solar Farm in rural Victoria.Juice Capital -
Juice Capital is a renewable energy asset developer, operating and managing a portfolio of solar generation assets across Australia. The Juice Capital Energy Fund represents 200 connected systems across more than 70 independent customers in 20 different industry segments. Future Super is a debt noteholder in the Juice Capital Energy Fund and has a 15-year fixed rate agreement.Australian Renewables Income Fund -
This fund holds interests in nine different wind and hydro assets. Those are Mumbida Wind Farm, Willogoleche Wind Farm, Ginan Solar, Mt Mercer Wind Farm, Burrinjuck Hydro, Hallett 4 Wind Farm, Bald Hills Wind Farm, Mt Millar Wind Farm, Hume Hydro and Keepit Hydro. In addition, it has a 70% interest in 10 smaller solar sites in Victoria.
Future Super’s screening excludes fossil fuel investments, with a 0% threshold for direct exposure to any revenue generated by owning fossil fuel reserves and/or from the mining, extraction or burning of fossil fuels, and these screens are applied to Renewables Plus Growth. The negative screening approach also excludes companies with any direct revenue generated from gambling, nuclear energy, tobacco, weapons, animal cruelty (such as live export), pornography, predatory lending, production or manufacturing of controversial chemicals and mandatory detention of asylum seekers or for-profit prisons. Where a company has an indirect revenue exposure to one of these screens that company must earn less than 5% of its revenue from that screened activity to still be eligible for investment. Companies with all male board members are screened out. So are companies found to engage in activities which have a direct negative impact on recognised UNESCO World Heritage or High Conservation Value areas. Any evidence of direct, repeated and systemic labour rights violations - including child labour, forced labour, sweatshops and causing harm to communities without redress - will also result in companies being screened out. Some of the more nuanced screening applied to the portfolio includes: companies that gain revenue from the production of alcohol must earn less than 5% of total revenue from alcohol; companies that indirectly have exposure to sales and distribution of alcohol must earn less than 20% of revenue from this activity; and companies involved in the sale of foods determined to have low nutritional value or possessing addictive properties such as through high sugar content or additives must earn less than 33% of revenue from those products. In addition, Renewables Plus Growth is positively screened to gain exposure to Carbon Leaders. Carbon Leaders are considered to be companies that have a carbon efficiency that places them in the top one-third of companies in their industry or are otherwise superior performers in relation to avoided emissions. It’s also positively screened for Green Bonds, bonds issued to fund projects that have positive environmental and/or climate benefits, and Sustainability Leaders, companies which have activities deemed to be inline with the UN Sustainable Development Goals. Renewables Plus Growth differs from Future Super’s other investment options in that additional positive screens are applied. It is positively screened for Climate Change Solutions. This screen creates biases to products, securities and funds that have material exposure to: green energy, green transportation, water and waste improvements, decarbonisation enabling solutions and sustainable products. This positive screen is applied for debt, equity and alternative assets and enables the delivery of the 20% target of exposure to climate change solutions (also referred to as renewables and related industries) noted in disclosure documents for the Renewables Plus Growth investment option. Find more information about Future Super’s screening policies here. Read more about why we have these screens in place here. Renewables Plus Growth has a 75% Growth 25% Defensive asset allocation, an investment objective of CPI + 2.5% per annum over rolling ten-year periods (after fees and taxes) and fees are currently set at 1.385% + $60 per annum. Find more information about all Future Super’s investment options here.
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Themes & Issues
8
themes included
5
issues fully avoided
1
issues mostly avoided
0
issues partially avoided
Product Targets
Retail
Certified Since
2015
Last date certified
November 10, 2023
Primary RI Strategy
Negative Screening
Secondary RI Strategy
Positive Screening